Lenders, have a corporate borrower sign over the rents under a lease of company-owned property with this
Assignment of Rents by Lessor with Repurchase Agreement.
- The Assignment is given as security for a loan and other credit facilities being advanced to the borrower.
- The lender (assignee) does not assume any of the obligations under the lease. Those obligations remain with the borrower (assignor), and the assignor indemnifies the assignee against any failure by the assignor to perform its obligations.
- The lender may proceed against the borrower without taking any action against the lessee (tenant) of the property.
- The borrower guarantees punctual payment under the terms of the lease.
- If the lessee of the property defaults under the lease, the borrower can repurchase the rights assigned by paying the lender the then total unpaid balance of rental payments under the lease.
This
Assignment of Rents by Lessor With Repurchase Agreement template is available in MS Word format, and is fully editable to suit your needs.
